Town enjoys the benefits of foundation
Aug 12, 2009
The rejuvenation of Folkestone is ploughing ahead despite uncertainty over the national economic situation.
And members of the Creative Foundation who are behind the moves to bring in new businesses to Tontine Street and The Old High Street say that the credit crunch has acted for them in some ways.They say building and construction labour is cheaper and more available as demand for such services has fallen elsewhere.
And instead of some six or seven new projects a year they have seen almost double that number going ahead in the last 12 months.
The cutback in the VAT rate has also been a bonus because of the large sums of money involved.
"When you are spending the amount we are - around £50 million in the last five years - then a cut in the rate of VAT of 2.5 per cent makes a difference," said foundation spokesman Peter Bettley.
He said the group was still confident it could make a difference to the town by transforming some of its most run- down areas - bringing a new lease of life to dilapidated buildings and attracting creative businesses and individuals to Folkestone.
The Creative Foundation is overseeing the development backed with cash and expertise from a trust founded by former Saga boss Roger de Haan, who made a commitment to improving the fortunes of his home town.
Both bodies are registered charities.
"A year ago the town was really in the spotlight because of the Triennial," said Mr Bettley.
"We were seeing a lot of interest from people who wanted to come here. To some extent that has tailed off, but people are now realising that we are in this for the long term. It's not a flash in the pan - it's a real commitment.
"The Roger de Haan Trust has made a commitment for 125 years to this project and I think those who want to come here realise that.
"In some areas we have seen artists and other creative people move in and make an area attractive and trendy.
"An influx of more moneyed types follows and rents go up - pushing the people who made the area edgy and exciting in the first place out.
"Our challenge is not to let that happen here and the fact that both the bodies concerned are charities makes that possible. We are not in this to make huge sums of money. It's about the town."
One address on The Old High Street is approaching the end of its renovation and will soon be up for offer, while two businesses have recently moved into new premises along the street.
Michelle Wood is manager of the Home Ground café.
She said: "When I was young this was an area you didn't go to - now it is attractive and welcoming."
Source: Your Shepway
